Tech jobs market normalizing as July unemployment dips

Post by woodruffw » Tue, Aug 22, 2023, 9:34 PM UTC

calvinmorrison wrote: post #20

zuhayeer wrote: post #10

We published the Levels.fyi 2023 mid-year compensation report earlier: https://www.levels.fyi/blog/2023-mid-year-report.html While volume of hiring may have been lower overall so far this year, median compensation has generally remained steady or increased in the first half of 2023 relative to the last half of 2022 for most roles. In particular, the median for software engineer compensation stayed the same, while rol…

being just a regular IT person with 15+years experience and getting paid fairly well for what the local market is, whats the chance of a normal person working at a place that pays $700,000 as a SWE? How do you even approach that? Does someone mid career have a chance to pivot?

Post by whimsicalism » Tue, Aug 22, 2023, 9:40 PM UTC

woodruffw wrote: post #21

calvinmorrison wrote: post #20

Earlier quoted context omitted.

being just a regular IT person with 15+years experience and getting paid fairly well for what the local market is, whats the chance of a normal person working at a place that pays $700,000 as a SWE? How do you even approach that? Does someone mid career have a chance to pivot?

Almost nowhere pays $700k for a SWE. These numbers come from stock grants or similar financial instruments; that money gets realized eventually , but it's not guaranteed in the same way that a fortnightly bank deposit is.

Post by po8tin » Tue, Aug 22, 2023, 9:44 PM UTC

junon wrote: post #22

darth_avocado wrote: post #16

I would hardly call this normalizing. > Finding the IT workers they need to meet hiring goals or complete projects is a struggle for more than two-thirds of executives This should tell you everything you need to know about the market. Jobs are being added, but the quality of jobs has deteriorated. If 1000 people were laid off from Google and 1000 jobs opened up for contract roles in consultancies that pay below marke…

Seconded. Plus what is up with recruiting culture lately? The ghosting is worse than online dating at this point. There was a time I was annoyed at the canned rejection emails but I'll be damned if I even get a one word "no" these days.

Post by idontpost » Tue, Aug 22, 2023, 9:48 PM UTC

whimsicalism wrote: post #23

woodruffw wrote: post #21

Earlier quoted context omitted.

Almost nowhere pays $700k for a SWE. These numbers come from stock grants or similar financial instruments; that money gets realized eventually , but it's not guaranteed in the same way that a fortnightly bank deposit is.

If we are discussing the levels.fyi pay report, then they are only including the numbers you get in a single year, you are incorrect. $700k is obviously top top band, but this is referring to annual pay.

Post by theonething » Tue, Aug 22, 2023, 9:49 PM UTC

harryVic wrote: post #13

oxfordmale wrote: post #7

It will take until 2024 for the job market to recover. The ARM IPO will be the first bell weather this year to gauge confidence in the tech sector.

I highly doubt it. I hope I'm wrong but there were far too many companies that raised 100s of millions with no kind of business model during the 2021 bubble. Those companies would have to go out of business before the market can go back to exuberance again. As an example this company https://www.gather.town/ has raised $76 million.